AWNIC Receives ‘Innovation of the Year’ Award by InsureTek

As part of its Golden Shield Excellence Awards, InsureTek has announced Al Wathba National Insurance Co. as the winner of the ‘Innovation of the Year’ award during its annual conference, hosted on the 9th of June at Dusit Thani Hotel, Dubai. InsureTek’s awards recognize leading companies who are standing out from the crowd are helping the insurance industry evolve.

“We are very proud to be receiving such a prestigious award. At AWNIC, we have invested a lot of resources to deliver significant value to both customers and employees. Our digitization initiatives were driven by path breaking technologies to build strong partnerships with key players in the industry while addressing the demands of the end-users,” said Anas Mistareehi, AWNIC’s Chief Operating Officer.

“Adopting a digital approach has helped us carrying out business operations seamlessly during the pandemic. By leveraging our digital capabilities, we were able to operate 100% remotely without any interruptions. In fact, we have seen a 200% increase in premium production through our eChannel during the second quarter of 2020. Similarly, a customer satisfaction rate of 93.4% was recorded from March to June 2020 as the clients were able to access and avail all AWNIC offerings by using our eChannel without any manual intervention,” he added.

The ‘Innovation of the Year’ category is specially created to recognize the commitment and professionalism of organisations’ operational and technical teams in delivering value to their customers, expanding their networks, and investing in innovative technology in what continues to be a constantly challenging environment.

From having an innovative user-friendly mobile app and website to implementing Blockchain Technology in claims processes, AWNIC has introduced several tech solutions, which have resulted in accolades with Digital Initiative Award for Digital and Smart Services in 2018 and 2019 by the UAE Insurance Authority. In 2020, Al Wathba Insurance Co has been ranked by Forbes Middle East to be the sixth ‘Most Valuable Insurance Companies in the Region’.